Strickland Metals shareholders toast to a solid week
Nick Sundich, October 21, 2022
Its been a good week for shareholders of Strickland Metals (ASX:STK). The gold and copper explorer has unveiled two sets of drilling results this week. And today, it announced a demerger of its non-core assets.
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Strickland Metals hoping to follow in Northern Star’s footsteps
Strickland Metals’ flagship project is the Milrose Gold Project. It lies in Western Australia’s Yandal Greenstone Belt, 30km east of Northern Star’s Jundee operation.
On Monday it revealed a solid intersection of 7m @ 22.2g/t gold from 72m. CEO Andrew Bray labelled the result as one of the most impressive assays returned to date. Yesterday, Strickland Metals unveiled two further intersections – 5m @ 14.5g/t and 5m @ 6.6g/t. The former of these holes was just 200m south of the intersection reported on Monday.
Shareholders have further assay results to look forward to in the near-term and an updated Mineral Resource in Q1 next year.
Strickland Metals (ASX:STK) share price chart (Graph: TradingView)
But wait, there’s more
Strickland Metals also has base metal assets, including the Earaheedy Basin Iroquois project and the Bryah Basin Projects. This morning, it unveiled a plan to demerge these assets into a new company so that these assets, along with Milrose, get their own attention and their value can be unlocked.
Shares have gained over 30% this week, including a 13% gain this morning, capping off a good week for shareholders!
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